The right time to Increase De Beers stake: Botswana’s mines minister

Botswana’s mines minister Bogolo Kenewendo says it’s “absolutely” the right time to discuss the government increasing its 15 per cent stake in De Beers.

Published

1 year ago

February 11, 2025

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She indicated that Anglo American, which owns the other 85 per cent of De Beers, was moving closer to an initial public offering (IPO) and that Botswana was pushing for a larger stake.

Anglo announced last week that it was likely to write down the value of De Beers from its current $7.6bn, as a result of persistent weak diamond demand, especially in China.

Botswana’s diamond, which accounts for over 70 per cent of the country’s export earnings, has been severely hit by the global slump in demand.

In the last nine months of 2024 Debswana – its 50/50 joint venture with De Beers it sold $1.53bn of rough, down 52 per cent on the same period in 2023.

Jwaneng 28.88 Diamond Sale Marks Start of De Beers, Sotheby’s Collaboration

Collaboration Centers on Joint Marketing and Storytelling, Both Companies Co-create a Branded Narrative – “Earth To Art”

Published

20 hours ago

April 13, 2026

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The sale of the Jwaneng 28.88 diamond later this month marks the start of a collaboration between De Beers and Sotheby’s.

This isn’t a simple transaction; it’s a narrative takeover. Under the banner “Earth to Art,” the two giants are co-creating a branded experience that tracks the journey of a stone from the deep-time pressure of the Botswana crust to the white-glove stage of the auction house.

The face of this revolution is the Jwaneng 28.88. A flawless, D-color, unmounted miracle, this diamond was carved from a massive 114.83-carat rough pulled from the legendary Jwaneng mine—the “Prince of Mines.”

It doesn’t just sparkle; it demands attention. This isn’t just carbon—it’s a curated relic of the earth’s core, reimagined for the modern collector.

The Sale Details

The Jwaneng 28.88 will headline the Magnificent Jewels & Jadeite sale in Hong Kong. It is accompanied by a curated selection of other Jwaneng-sourced treasures, including a solitaire ring and a pair of diamond earrings that redefine “standard” brilliance.

Auction Date: 23 April.Location: Sotheby’s Hong Kong
Estimate: HKD 17M – HKD 22M ($2.2M – $2.8M USD)

While the specific legal ink of the deal remains under wraps, the intent is clear: De Beers and Sotheby’s are no longer just seller and platform. They are storytellers. By merging De Beers’ unrivaled access to the source with Sotheby’s cultural authority, “Earth to Art” ensures that a diamond is never just a stone again. It is a legacy you can hold.